WASHINGTON - Housing starts increased 11 percent in April to a seasonally adjusted annual rate of 2.038 million units, the U.S. Department of Commerce reported. The April construction pace was up 3.6 percent from a year ago.
"After a temporary fall-off in March that appears largely weather-related, housing is back on track," said David Wilson, president of the National Association of Home Builders (NAHB). "Our builder surveys show that they remain confident about the market, and mortgage rates remain extremely attractive at well under 6 percent. This bodes well for the housing market in the coming months."